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DS News Webcast: Wednesday 10/28/2015

National vacancy rates for both rental and homeowner housing inched slightly upward year-over-year in Q3, according to data released by the Department of Commerce’s Census Bureau on Tuesday.

The vacancy rate for rental housing in Q3 2015 was 7 point 3 percent, a slight increase of zero point 1 percentage points from the same quarter a year ago. The homeowner vacancy rate was 1 point 9 percent in Q3, up zero point 1 percentage points both month-over-month and year-over-year.

Vacancy rates in rental housing were highest outside of Metropolitan Statistical Areas at 9.2 percent and were lower in principal cities at 7 point 7 percent and suburbs at 62 percent. Overall in Q3, approximately 87 point 1 percent of single-family housing units were occupied and 12 point 9 percent were vacant, according to the Census Bureau. About 55 point 5 percent of all single-family housing units were owner-occupied in Q3, while renter-occupied units comprised bout 31 point 6 percent of single-family housing inventory in the third quarter.

The fourth volume of the Consumer Financial Protection Bureau's monthly complaint snapshot released Tuesday focused on one of its top three most complained-about financial products: mortgages. In September 2015, the Bureau received 23 thousand 400 complaints, and 4 thousand 700 of these were mortgage-related complaints, making it the third most complained-about category this month. Last September, mortgage complaints totaled almost 4 thousand 300. On a positive note, the CFPB reported that overall complaints declined 9 percent month-over-month, while mortgage complaints fell 7 percent from the prior month.

About Author: Jordan Funderburk

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